The Via Meadia blog at The American Interest takes a look at a report that examines this very issue and was just released by the Council on Foreign Relations.

Via Meadia: "A new report warns that as the shale revolution pumps new life into American energy production, it also leaves states vulnerable to global energy price swings. Between 2010 and 2012, oil and gas industry jobs grew 10 times faster than overall American jobs. Fossil fuels’ share of America’s GDP has nearly tripled since 1999. But states replete with shale energy shouldn’t rely too heavily on oil and gas production, which will make them more vulnerable to global price fluctuations.

"The brief, released this morning by the Council on Foreign Relations, observes that after an energy production peak in 1981 'most US energy-producing states diversified away from energy production and energy-intensive industries.' Now, for obvious reasons, these states, along with newcomers like North Dakota, are relying more and more on fossil fuels for jobs and GDP ..."

Read the whole Via Meadia post here. The full Council on Foreign Relations report is here.